Asked by vaneeva perez on May 28, 2024
Verified
A promise or order is payable at a definite time if it is payable:
A) at a time readily ascertainable at the time the promise or order is issued.
B) at a fixed date or dates.
C) at a definite period of time after sight or acceptance.
D) All of these.
Payable at a Definite Time
Refers to a financial obligation that is due to be paid on a specific date.
Fixed Date
A specific, agreed-upon date by which an event must occur or an action must be taken.
Time Readily Ascertainable
A term referring to a time period that can be easily and quickly determined or identified without significant delay or investigation.
- Fathom the exact requirements that make a promise or order unconditional and payable at a designated time.
Verified Answer
ÑB
Ñàñà bù??ë?May 31, 2024
Final Answer :
D
Explanation :
All of these conditions (A, B, C) make a promise or order payable at a definite time, as they all specify a time frame that can be determined when the promise or order is issued.
Learning Objectives
- Fathom the exact requirements that make a promise or order unconditional and payable at a designated time.